Sweden

Country Summary

Introduction

Background

A military power during the 17th century, Sweden has not participated in any war for two centuries. An armed neutrality was preserved in both World Wars. Since then, Sweden has pursued a successful economic formula consisting of a capitalist system intermixed with substantial welfare elements.

Geography

Area

total: 450,295 sq km
land: 410,335 sq km
water: 39,960 sq km

Climate

temperate in south with cold, cloudy winters and cool, partly cloudy summers; subarctic in north

Natural resources

iron ore, copper, lead, zinc, gold, silver, tungsten, uranium, arsenic, feldspar, timber, hydropower

People and Society

Population

10,536,338 (2023 est.)

Ethnic groups

Swedish 79.6%, Syrian 1.9%, Iraqi 1.4%, Finnish 1.3%, other 15.8%

(2022 est.)

Languages

Swedish (official)

Religions

Church of Sweden (Lutheran) 53.9%, other (includes Roman Catholic, Orthodox, Baptist, Muslim, Jewish, and Buddhist) 8.9%, none or unspecified 37.2% (2021 est.)

Population growth rate

0.51% (2023 est.)

Government

Government type

parliamentary constitutional monarchy

Capital

name: Stockholm

Executive branch

chief of state: King CARL XVI GUSTAF (since 15 September 1973); Heir Apparent Princess VICTORIA Ingrid Alice Desiree (daughter of the monarch, born 14 July 1977)
head of government: Prime Minister Ulf KRISTERSSON (since 18 October 2022); Deputy Prime Minister Ebba BUSCH (since 18 October 2022)

Legislative branch

description: unicameral Parliament or Riksdag (349 seats; 310 members directly elected in multi-seat constituencies by open party-list proportional representation vote and 39 members in "at-large" seats directly elected by open party-list proportional representation vote; members serve 4-year terms)

Economy

Economic overview

high-income, knowledge-based economy; EU member but non-euro user (refuses to peg krona to euro); large welfare state that complements its free-market capitalism; high living standards, environmental protections, income and gender equality; rebounding well from COVID-19 disruptions

Real GDP (purchasing power parity)

$580.099 billion (2022 est.)
$558.427 billion (2021 est.)
$531.455 billion (2020 est.)

Real GDP per capita

$55,300 (2022 est.)
$53,600 (2021 est.)
$51,300 (2020 est.)

Agricultural products

wheat, milk, sugar beets, barley, potatoes, oats, rapeseed, pork, rye, triticale

Industries

iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles

Exports

$312.136 billion (2022 est.)
$290.793 billion (2021 est.)
$241.94 billion (2020 est.)

Exports - partners

Germany 10%, Norway 9%, United States 8%, Denmark 8%, Finland 6% (2021)

Exports - commodities

cars and vehicle parts, refined petroleum, packaged medicines, lumber, iron, broadcasting equipment (2021)

Imports

$294.817 billion (2022 est.)
$263.269 billion (2021 est.)
$217.165 billion (2020 est.)

Imports - partners

Germany 18%, Netherlands 9%, Norway 8%, China 7%, Denmark 7% (2021)

Imports - commodities

cars and vehicle parts, crude petroleum, refined petroleum, broadcasting equipment, computers (2021)

Exchange rates

Swedish kronor (SEK) per US dollar -
Exchange rates:
8.577 (2021 est.)
9.21 (2020 est.)
9.458 (2019 est.)
8.693 (2018 est.)
8.549 (2017 est.)


Page last updated: Wednesday, February 21, 2024